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Dhamani started as a loose gemstone dealer in 1969 in Jaipur, India. By the 2000s, it was headquartered in Dubai, United Arab Emirates and had expanded into diamonds and retail. The family business was now in its second generation of leadership and aimed to become a top global jewelry brand within the next 10 years. The family had been successful throughout its various inflection points in the past--had it positioned itself well to soon begin competing with the global, high-end jewelry houses such as Cartier and Bulgari?

learning objective:

Understand the entrepreneurial process from start-up to high growth. Identify challenges and opportunities of building a global business and approaches for dealing with them. Discuss strategies for leading a multi-generational family business.

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The leadership team of Atlantis Paradise Island, under new ownership, decided that better alignment of the core values with the vision and mission statement would create a more compelling and consistent organizational narrative that would redouble employee commitment to Atlantis' ultimate success. They hoped that rethinking the core values would help them unleash the full transformative potential of their vision and mission.

learning objective:

Learn how to define, develop and distribute a set of core values to be presented to the larger management team and eventually to all employees by embedding them into all aspects of the organization.

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The Grommet, an online product launch platform, was at the brink of scaling its business. The Grommet's daily launch and sale of innovative consumer products, using personal videos created by product makers, had led to its initial success. In 2014, the company launched The Grommet Wholesale, a similar platform targeting retailers. Was this the best way to capture more of the value the company created for makers?

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This case describes the design and implementation of an IT-multi-sourcing strategy at a large global sportswear company, the adidas Group, which is headquartered in Germany. To help increase the benefits and reduce the risks of its sourcing arrangements, adidas carefully selected two tier-2 vendors to work with its primary tier-1 vendor, a large Indian outsourcing firm that it had worked with closely for over a decade. The management of the multi-sourcing arrangement is posing a number of challenges. The Chief Information Officer is considering a number of options to ensure the continued success of the multi-sourcing strategy, including restructuring the IT group, developing the skills of its staff, and starting a captive center.

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Among the many challenges that entrepreneurs must face is assembling the resources necessary to build a successful business. Most entrepreneurs will go through an iterative process of building a team, raising capital, and developing an ecosystem. An entrepreneur's decisions are highly interdependent--for example, the ability to attract customers, partners, and team members may depend on the ability to attract financing, which depends on ecosystem connections and a high-quality team. This Reading addresses 2 of the 3 kinds of resources critical to early-stage ventures: people (attracting cofounders, key employees, and advisors) and a business network (building the "ecosystem" of customers, suppliers, partners, and evangelists needed to develop products and get them to market). The third resource category, the capital required to finance the launch of the venture, is discussed in detail in "Entrepreneurship Reading: Financing New Ventures" [HBP No. 8072]. "Attracting Talent and Building Ecosystems" first explores the talent a new venture needs, including cofounders, key employees, advisors, and board members. The Reading then discusses how entrepreneurs can assemble the ecosystem of customers, partners, and other stakeholders who help develop and launch entry products and services, attract early customers, and gain traction in the market. Finally, the entrepreneurial story of Dan Bricklin, the inventor of the electronic spreadsheet, serves as an example of the process. A special topics section covers entrepreneurial negotiations and legal forms of organization. There is also a glossary of key terms, as well as suggestions for complimentary cases and further reading.

This Reading contains an Interactive Illustration which provides an example of the evolving entrepreneurial ecosystem of Skyhook Wireless.

learning objective:

1. Understand the opportunities and tradeoffs associated with attracting talent in a new venture - including co-founders, employees, and boards of directors and advisors 2. Learn how to build a business network, or "ecosystem," of customers, suppliers, partners, and evangelists needed to develop products and get them to market. 3. Understand how to use outside resources such as incubators and accelerators effectively. 4. Learn the fundamentals of entrepreneurial negotiations and legal forms of organization.

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Core Curriculum in Entrepreneurship is a series of Readings that cover fundamental course material in Entrepreneurship. Entrepreneurship is a way of thinking, reasoning, and leading. Successful entrepreneurs identify a creative way to address a marketplace problem or need. They then formulate an entry strategy, create a set of experiments to test it, and execute the product development and market entry activities needed to launch the business. Once the business model has been refined and the venture gains traction, successful entrepreneurs know how to identify the resources needed to scale and exploit the full potential of the opportunity. This Reading begins by examining the role of entrepreneurship in the business landscape. Using examples of entrepreneurs such as Amazon's Jeff Bezos, the authors discuss the behaviors, decisions, and roles of entrepreneurial leaders as they pursue opportunities and pivot to growth. As the Reading explores what entrepreneurs do, it considers both the activities and leadership skills required in the life cycle of an innovative business-as well as the skills needed to pursue different kinds of opportunities. What kind of person is best suited to entrepreneurship? Decades of research suggest that it is more important to study what entrepreneurs do rather than attempting to identify common characteristics or personality types. This Reading will show, however, that different types of entrepreneurial leadership are needed at different times, and that different types of entrepreneurs are often best suited to pursue certain opportunities.

learning objective:

1. Understand the concept of entrepreneurial leadership 2. Introduce the stages of the entrepreneurial life cycle, and define key activities and decisions associated with each stage 3. Identify different categories of entrepreneurial opportunities depending on the size and scope of the opportunity and risk and reward involved. Learn how different entrepreneurs might be attracted to different categories 4. Define key "discovery skills" used by successful entrepreneurs

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Core Curriculum in Entrepreneurship is a series of Readings that cover fundamental course material in Entrepreneurship. Success in launching a new business depends on an entrepreneur's ability to clearly communicate the market opportunity, outline the proposed solution, describe the implementation plan and expected benefits for all stakeholders, and account for the risks involved. A crisp, well-articulated business plan and pitch are therefore two of the most critical components in building a successful venture. "Developing Business Plans and Pitching Opportunities" explains how to translate a business model into a compelling business plan and pitch. The Reading introduces the concept of entrepreneurial planning and the current debates about its role in early-stage ventures. It also covers the importance of crafting a succinct, powerful pitch for a new business plan, how to practice and present that pitch, and how to craft it so that it effectively conveys the opportunity to different stakeholders in different situations.

The Reading covers 2 additional, practical topics: how to develop an 11-slide investor pitch and how to use the Business Plan Evaluation Checklist to analyze 2 short business plans for early-stage investment. It also includes 2 videos of real entrepreneurs' business plan pitches from the popular Shark Tank television series for students to evaluate.

learning objective:

1. Understand how to translate a business model into a well-crafted plan and pitch 2. Decide how to select from business plan and pitch types to most effectively convey the opportunity to stakeholders in different situations 3. Understand how potential investors and other stakeholders evaluate a plan or pitch 4. Learn how to make the plan or pitch succinct, comprehensive, and compelling

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Core Curriculum in Entrepreneurship is a series of Readings that cover fundamental course material in Entrepreneurship. Readings include Interactive Illustrations which help students master complex concepts quickly. Having an idea is just the first step in an entrepreneurial journey. Turning that idea into a compelling opportunity requires analytical capabilities, passion, and determination. Successful entrepreneurs know how to take their ideas and shape them into opportunities to create value for all stakeholders. Beginning with the stories of 3 entrepreneurial journeys. this Reading examines that process of identifying and shaping opportunities. Opportunity recognition and shaping comprise 3 distinct activities: (1) perceiving an unmet market need, or a capability that could meet a need that has yet to be identified; (2) discovering the fit between market needs and the capabilities and resources available to the entrepreneur; and (3) creating a product, service, or solution that can be delivered to a specific market to address a specific need while generating value for all stakeholders. The novelty of an entrepreneurial opportunity-whether in market need or in skills needed to execute-- influences the level of uncertainty in the assumptions that the entrepreneur must make in shaping the opportunity, which, in turn, influences the level of risk. After sharing the journeys of 3 entrepreneurs, this Reading explores how entrepreneurs identify opportunities and ends by discussing how they shape them by crafting business models and identifying risks and uncertainty. Although entrepreneurial ventures are usually formed in an iterative rather than a sequential manner-the founders are engaged in multiple parts of the new-venture-formation process simultaneously-this Reading lays out sequential steps for simplicity.

This reading includes 2 Interactive Illustrations. "Identifying Growth Opportunities" demonstrates how ventures make strategic growth decisions. "SalesLogic Business Model Comparison" dynamically compares three business models a company is considering as it contemplates how best to grow. The reading concludes with two Supplemental Readings. "Designing an Entrepreneurial Apprenticeship," identifies approaches entrepreneurs can use to develop the experience and networks needed to recognize and shape opportunities. "Comparing Business Models," includes the second interactive exercise.

learning objective:

1. Understand the process entrepreneurs use to generate ideas for new businesses and shape them into opportunities supported by a business model. 2. Compare examples of how entrepreneurs have navigated the process of recognizing and shaping opportunities. 3. Understand the difference between intuitive and analytical thinking and the role of each in recognizing and shaping opportunities. 4. Examine approaches for converting a business model to a cash flow forecast 5. Learn approaches for managing risk and uncertainty when launching new ventures

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